Topic: [BitFunder] BTCINVEST - Low risk investment fund | Market cap: 2000+ BTC - page 20. (Read 45537 times)

S.DICE possibly worth shorting but you need to be really careful shorting bASIC.  If Avalon fail to deliver in bulk and BFL DO deliver then a short MAY pay off - but if batch 2 Avalon ship on schedule then you'll likely end up losing fairly heavily on a short of bASIC.  Unlike most other mning companies bASIC still has most of its share value in existence (Due to not having spent most funds raised) - so scope for shorting it is pretty limited as the vast majority of its price is in actual BTC.  That makes its price more stable than many other companies where 1 BTC of share price is only backed by 0.5 or less BTC of assets (your own company is actually currently trading at around its asset value - but many others are trading well above it).

True, I thought it was ridiculous to short BTC-BOND too but I can see a short on bASIC-MINING working out well.

It looks like it's for this loan (even through it specifies BTC, not assets): https://bitcointalksearch.org/topic/closed-146689

Would imagine he's using it as a cash loan.  The assets he's borrowed make very little sense to short (BTC-BOND buys back at face-value on request so is essentially stupid to short).  Most likely he's going to use them as collateral for a BTCJam loan (that converts them to cash without having to sell and buyback with the costs/risk associated with it).

It's an expensive way to raise cash - so clearly he's desperate for whatever reason.

Were they loaned to him personally or to his mining company (makes no odds as far as default risk is concerned - if he's going to scam he'll obviously scam the company too)?

I know his company took a loan to raise the last cash needed to buy an ASIC - not sure if that's what this was for, or if that was yet another loan.

What's the total amount of assets loaned to Bakewell? What is it for - shorting?

Increased my holdings a little bit. I'll be able to get some more once my BFL delivery bet pays off on 1st March

You are aware of Bakewell's rather large loan request on BTC Jam right; is this related?

Also are you are keeping the ASICMiner shares for the dividends or would you potentially lend/liquidate them?

We'd like to offer a new BTC loan, however with the asset lending to ianbakewell we're a bit short on funds. Right now is a pretty good time to buy some bonds

We have lent significant assets (G.SDICE, BTC-BOND & bASIC-MINING) to Ian Bakewell until May 17th. The interest (in BTC) we'll receive is 37.219 BTC and we'll get the assets back.

The first interest payment will be two dividend cycles after, and obviously we won't get the dividends from the shares we lent - so unfortunately the dividends for the next two cycles will be very small. This would be made up later through.

I've also got confirmation from friedcat that the asset transfer has took place!

Very good. I will hold on to my shares for longer in that case. Was about to sell some @0.0999. Now I feel confident holding the shares again. Thanks.

Yes, it's in the asset description!

'Buybacks
BTCINVEST will buy back each bond for their face value minus the fee BitFunder already charged us (0.099 BTC). However, as at any time the funds are mostly in fixed term investments, investors will need to schedule the buyback with BTCINVEST. "

Because of the structural change, this is no longer the case.

Will this offer stand in the future?

Because it would reduce returns if I keep X% of the coins on a bidwall instead of actually investing?  

It's the same as BTCBOND. The reason why the bidwall isn't large for btcinvest is because BitFunder's reserve system works differently - if you put up 100 at 0.099, then you can't have the same coins on another reserve. So people who are interested at buying this at 0.099 would be better to just buy it at face value and get dividends!

I'm not mad TF old buddy old pal, just returning the favor from when you kindly bumped my colloidal silver thread.   

Sorry for calling BTCINVEST a stock, I now see it's a bond.

Even though the yield is much higher than I thought, I still wouldn't invest because having to PM you to cash out is weird and defeats the purpose of using an exchange.

Why not just put up a bid wall at BTC0.099 instead?  Seems kind of scammy...

NovaCoin trades freely on BTC-E, and you don't have to PM Balthazar to sell them!   

Oh hi, got mad from the alt cryptocurrency section and you're trolling my threads now?

BTCINVEST is not a stock, issued shares will sell for exactly 0.1 BTC. Did you read the title?

You fail to do math, the dividends are ~0.7% every two weeks. This isn't BST, Dank or 420's bank.

You can trade in 1 share of btcinvest for the face value - BF fee (0.099 BTC). Just PM me

Please go complain about how there is no exchange for novascam yet. Have a good day!

Things for a potential buyer of BITINVEST to consider:

1.  BITINVEST, in the two months for which it as traded, has never exceeded its initial offer price.

2.  BITINVEST's latest dividend was a meager 0.0069807%.

3.  BITINVEST has little to no liquidity and is one of the least-traded securities on BitFunder (BTC0.60 in the last 48 hours).

4.  BITINVEST's highest bid order is a tiny 10 shares, at a price 20% below the ask (and they rapidly get worse from there).

Full disclosure:  I have over BTC20 BTC in several assets at BitFunder, but would never invest one Satoshi in a piece of garbage like BITINVEST.

Report:

Revenue
bASIC-MINING dividends: 0.1552 BTC
BTC-BOND dividends: 1.074 BTC
btcQuick inventory loan interest: 0.337 BTC
ATC777 loan: 0.215 BTC
scrybe line of credit interest: 0.1969 BTC

TOTAL: 1.9781 BTC
Paid out as dividends: 1.7082 (like always, will go out later today after weex)
Dividends per share:  0.000698 / share

Assets
Not traded on an exchange:
69 ASICMINER - approx 31.05 BTC

BitFunder
7,400 G.SDICE shares: 45.14 BTC
9 TU.SILVER: 1.161 BTC
Coins: 0.00 btc

Bitfunder total value: 46.75 BTC

btct.co
80 bASIC-MINING shares: 28 BTC
5906 BTC-BOND: 59.06 BTC
7 ESECURITYSABTC: 7.1 BTC
Coins: 0.00 btc

btct.co total value: 94.16 BTC

btcQuick loan (remaining amount): 7.5 BTC
ATC777 loan (remaining): 32.08 BTC
scrybe line of credit: 35 BTC

Total loans / lines of credit: 74.58 BTC

Bitcoins reserve: 0.004 BTC

Total: 246.54 BTC
Shares outstanding: 2447
NAV/share: 0.1008 BTC / share

Revenue
bASIC-MINING dividends: 0.13667 BTC
BTC-BOND dividends: 0.13071 BTC (thanks for the bonus
ESECURITYSABTC dividends: 0.12 BTC
G.SDICE dividends: 0.6762 BTC
JAH dividends: 0.2912 BTC

Havelock investments trading: 0.06 BTC

Fortnightly interest from btcQuick.com inventory loan: 0.337 BTC*
Fortnightly interest from insured ATC777 loan: 0.215 BTC*

* = brought forward to match dividend cycle

TOTAL: 1.96678 BTC
Management fee: 0.196678 BTC
Dividend per share:0.000893 / share

(will be paid in a moment)

Assets
BitFunder
6,400 G.SDICE - 39.68 BTC value
10 CoinBr.MPBPT-O - 1 BTC value
9 TU.SILVER - 1.743 BTC value
4 Exchange.ESIF - 2.539/questionable value
Coins: 1.28 BTC

Bitfunder total value: 43.9569 BTC

btct.co
38 bASIC-MINING - 13.65 BTC value
4827 BTC-BOND - 48.27 BTC value
10 ESECURITYSABTC - 7.7 BTC value, large spread through
coins: 0.2989 BTC

btct.co total value: 69.868 BTC

Loans / Lines of Credit
scrybe - 35 BTC line of credit
ATC777 - 35 BTC loan
btcQuick.com - 15 btc (btcjam)

Total loans / lines of credit: 85 BTC

Bitcoins reserve: 1.11 BTC

TOTAL: 199.93 BTC
Bonds outstanding: 1980 shares

NAV: 0.10097 / share

Some notes:

1. CoinBr.MPBPT-O was brought at 0.1 BTC. The purpose of buying this is to flip it at a higher price & work up on bitfunder fee tiers.
2. Exchange.ESIF is similar. The asset is pretty questionable, with no volume now, but the first ask is ours.
3. You'll notice JAH dividends without us holding any JAH anymore. We sold them

suggestion: put link to this thread in assets bitfunder profile.

Dumped as much S.DICE as I can for a profit with the new issuing

EDIT: Unfortunately, I didn't get the chance to buy it at 0.0044, but looking at the transaction history we still made a profit of 2.7 btc

Apparently it doesn't kill.

I sheepishly admit that I jacked it from MPEx.